Rally

DeFi

Fantom

Avalanche

<ul> 
 <li aria-level="1">Fantom’s market cap surges beyond $3 billion due to a 60% price increase, driven by its expanding DeFi ecosystem.</li> 
 <li aria-level="1">The rise in Fantom’s value is supported by heightened trading volumes and growing investor interest in its technological updates.</li> 
</ul> 
Fantom has surged by 60% this week, significantly outperforming its counterparts ETH, SOL, and AVAX. This rally has elevated Fantom’s market cap beyond the $3 billion mark, positioning it as a standout performer in the cryptocurrency market.&nbsp; 
The surge is primarily fueled by the expansion of Fantom’s decentralized finance <a href="https://www.ethnews.com/is-fantoms-defi-revolution-enough-to-challenge-pepes-meme-coin-popularity-ww3-shiba-seeks-whales-with-its-memecoin-strategy/">(DeFi) ecosystem</a> coupled with a general resurgence of market optimism. 
<h2 id="b-fantom-s-rally-b">Fantom’s Rally</h2> 
A Closer Look at the Drivers The recent rally in <a href="https://www.ethnews.com/fantom-and-polygon-reverse-gains-while-rollblock-continues-rise-to-stardom-100x-predicted/">Fantom’s value</a> can be attributed to a confluence of factors, including a sharp increase in trading volume and active market participation. Notably, investor interest has spiked, supported by significant ecosystem developments within Fantom.&nbsp; 
These updates have not only bolstered investor confidence but have also reignited excitement around Fantom’s potential in the <a href="https://www.ethnews.com/fantom-and-floki-up-over-20-in-past-week-rollblock-holders-reap-110-gains-as-momentum-builds/">DeFi sector</a>. 
<h2 id="b-technical-indicators-b">Technical Indicators</h2> 
<figure id="attachment_108401" aria-describedby="caption-attachment-108401" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-108401" src="https://www.ethnews.com/wp-content/uploads/2024/11/FTMUSD_2024-11-27_15-44-13-e1732746376133.png" alt="FTMUSD_2024-11-27_15-44-13" width="1824" height="772">
 <figcaption id="caption-attachment-108401" class="wp-caption-text">
 Source: Tradingview
 </figcaption>
</figure> 
The Relative Strength Index (RSI) for Fantom is currently at 70.93, indicating that the asset is in overbought territory. This suggests strong buying momentum, although it also signals potential for a near-term correction. 
 Additionally, the On-Balance Volume (OBV) shows a consistent pattern of accumulation, which aligns with the overall positive sentiment in the market. 
<figure id="attachment_108405" aria-describedby="caption-attachment-108405" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="wp-image-108405 size-full" title="FTMUSD_2024-11-27_15-47-58" src="https://www.ethnews.com/wp-content/uploads/2024/11/FTMUSD_2024-11-27_15-47-58-e1732746485892.png" alt="FTMUSD_2024-11-27_15-47-58" width="1824" height="784">
 <figcaption id="caption-attachment-108405" class="wp-caption-text">
 Source: Tradingview
 </figcaption>
</figure> 
Comparative Analysis with Competitors When compared to other major cryptocurrencies like Ethereum (ETH), Solana (SOL), and Avalanche (AVAX), Fantom’s performance is notably superior. 
<div class="cryptoboxes" id="mcw-12347" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-chartcoin="SOL" data-chartcurrency="USD" data-chartrate="1.000268" data-charttype="chart" data-chartview="day" data-charttheme="light" data-chartsmooth="true" data-chartareacolor="" data-chartbgcolor=""></div>
</div> 
For instance, while AVAX has seen a commendable rise of 55.48%, SOL has increased by 27.18%, and ETH has observed a modest gain of 5.29%.&nbsp; 
<figure id="attachment_108409" aria-describedby="caption-attachment-108409" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-108409" src="https://www.ethnews.com/wp-content/uploads/2024/11/FTMUSDT.P_2024-11-27_18-29-22.png" alt="FTMUSDT.P_2024-11-27_18-29-22" width="1518" height="929">
 <figcaption id="caption-attachment-108409" class="wp-caption-text">
 Source: Tradingview
 </figcaption>
</figure> 
Fantom (FTM) is currently priced at $1.05 USD, reflecting a 3.20% decline over the past day. Despite this short-term drop, FTM has shown significant growth in the past week, rising by 50.82%, and a 53.75% increase over the past month.&nbsp; 
Its year-to-date performance showcases a strong 121.66% gain, and over the past year, FTM has surged by an impressive 254.44%. 
Key Metrics: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Market Capitalization: $2.95 billion USD</li> 
 <li style="font-weight: 400;" aria-level="1">24-Hour Trading Volume: $825.21 million USD</li> 
 <li style="font-weight: 400;" aria-level="1">All-Time High: $3.488 USD (a substantial discount from current levels).</li> 
 <li style="font-weight: 400;" aria-level="1">Circulating Supply: 2.80 billion FTM, with a total supply of 3.17 billion FTM.</li> 
</ul> 
Technical Overview: 
Fantom is currently consolidating after a strong upward move, with key resistance around the $1.20 USD level. Immediate support is seen near $0.90 – $1.00 USD, which aligns with previous accumulation zones. 
The recent surge is supported by strong fundamentals, including its focus on DeFi and scalability through its Lachesis consensus mechanism. 
<figure id="attachment_108413" aria-describedby="caption-attachment-108413" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-108413" src="https://www.ethnews.com/wp-content/uploads/2024/11/FTMUSDT.P_2024-11-27_18-31-14.png" alt="FTMUSDT.P_2024-11-27_18-31-14" width="1518" height="929">
 <figcaption id="caption-attachment-108413" class="wp-caption-text">
 Source: Tradingview
 </figcaption>
</figure> 
The FTM/USDT chart demonstrates a strong bullish structure following a breakout from a prolonged accumulation phase, trading at $1.0499 USD. 
 The recent upward movement shows a clean break of structure (BOS) and a test of the equilibrium zone, suggesting further bullish momentum, though the price is approaching a critical resistance area in the premium zone. 
Key Technical Levels: 
Resistance Zones: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">$1.15 – $1.30 USD (Premium Zone): This zone represents significant resistance, as it aligns with previous highs and sell-side liquidity. A breakout above this level could open the door to testing higher levels, possibly $1.50 USD.</li> 
 <li style="font-weight: 400;" aria-level="1">$1.00 USD: A psychological level where the price is consolidating, with potential for a short-term pullback.</li> 
</ul> 
Support Zones: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">$0.90 USD (Equilibrium Zone): This key support area aligns with the mid-point of the recent bullish range. Holding above this level is crucial for maintaining the current bullish structure.</li> 
 <li style="font-weight: 400;" aria-level="1">$0.60 – $0.70 USD (Discount Zone): A strong demand zone where previous accumulation occurred. If the price retraces sharply, this zone could act as a base for another rally.</li> 
</ul> 
The post <a href="https://www.ethnews.com/fantom-outperforms-major-cryptocurrencies-with-a-130-91-increase-significantly-ahead-of-ethereum-solana-and-avalanche/">Fantom outperforms major cryptocurrencies with a 130.91% increase, significantly ahead of Ethereum, Solana, and Avalanche.</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Fantom outperforms major cryptocurrencies with a 130.91% increase, significantly ahead of Ethereum, Solana, and Avalanche.

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